Morgans Financial looks like it will get less than it bargained for at Commonwealth Bank of Australia's CommSec Advisory unit.

Street Talk understands almost half a dozen financial advisers Morgans would've wanted to pick up when it agreed to buy CommSec Advisory in September have opted not to sign on with the Brisbane-based stockbroker.

Instead, they will join rival firm Shaw and Partners.

Sources said CommSec senior advisors Jason Loveridge, John Christou, Kostas Zanios and Ross Love, all of whom were based in Melbourne and made up 90 per cent of the revenue in that office, will start with Shaws on Thursday.

Shaws also pinched CommSec adviser Antony Vida in Sydney and hired Wilsons' Dan Bryant in Brisbane, sources said.

“It is a wonderful way to finish the year off with such top quality practitioners choosing to join our firm," Shaw and Partners co-chief executive Allan Zion told Street Talk on Monday.

Morgans earlier this year won the tender conducted by CBA, seeing off the likes of Shaws, Morgan Stanley Wealth Management, Ord Minnett and Wilsons to take the business.

It is understood there were less than 20 advisers in the CommSec team, who together managed $4 billion to $4.5 billion on behalf of clients.

CommSec Advisory offers financial planning and advice to clients, including high net worth clients and self managed super funds.

As first reported by Street Talk in June, CBA asked a bunch of wealth managers to pitch to take the advisers.

Article source: AFR, 18 November 2019